Tough Cards - Tough Decisions
We see it all the time. A low population card comes up for sale and no one knows what to pay for it. What is it worth? Well, like old saying goes, its worth as much as someone will pay for it. While SMR and other price guides do their best to analyze the market, prices for these cards are virtually impossible to predict.
So, as collectors, what do we do?
In some cases, there may not be any recent sales to refer to. In other cases, there may be wild swings in the price for the very same card. Just this past fall, two low population cards of note sold for drastically different prices at auction. The cards were both graded PSA Mint 9 and, in a one month period, one sold for over $50,000 while the other sold for about $10,000.
How does this happen? Well, neither figure seems accurate. One seems way too high and the other way too low. Sometimes, two people can really pound on each other during an auction, driving the price skyward. Other times, great cards get overlooked in a sea of fine memorabilia. It's just the nature of the beast.
Even though there might not be an easy answer, here are some quick tips on how to approach cards of this nature.
1) Research, research and more research.
Do as much as you can. Sometimes, like I mentioned before, there may not be any recent sales history but collecting auction catalogues and keeping the prices realized can provide great tools for comparison. If there are no recent sales of that particular card, look for sales of comparable card in terms of rarity and popularity. It doesn't always work but at least you give yourself the best chance at understanding the value.
2) Take emotion out of the equation and use your head.
This is easier said than done because emotional involvement or passion is what drives most collectors in their pursuits but, when you are battling over a tough card, emotions can lead you down a very costly path. Most collectors have overpaid for an item here and there. There's nothing wrong with that because you cannot put a price on collector satisfaction but just try to use your head as much as you can. Is this card a low population card simply because not many have been submitted? Is this is a card that should always be in high demand? Is this card scorching hot at the moment but was it cold just a short time ago? Ask as many questions as you can before you reach into your wallet.
3) Don't hesitate if it's within range.
This is a tip coming from the opposite angle. It is important that you keep yourself under control and become an informed buyer but being too conservative can also be a problem, especially when it comes to tough cards. If an item is within your budget, even if it exceeds it slightly, don't hesitate. You will be sorry. It's one thing if a card goes way above and beyond your means but, if it's close, go for it. Truly tough items don't come around that often. In some cases, they may not come back around for a really long time and it can frustrate that most seasoned collector. Don't let the opportunity escape. Life is too short.
Hopefully, these three tips will come in handy the next time you consider buying an elusive card. It's never easy.
Never get cheated,
Editor In Chief
Copyright © 2014 PSA – A Division of Collectors Universe. Nasdaq: CLCT. All rights reserved.